Betting Odds In Percentages
- Fraction betting odds are easier to convert into an implied winning percentage. For fraction betting odds, the formula is: Denominator / (Denominator + Numerator) If the fraction betting odds are 11/10, the formula would look like this: 10 / (11+10) = 10 / 21 = 0.4761904. Multiply your end result (0.4761904) by 100 to get the percentage: 47.6%.
- What does Bet Percentage really mean? Bet perce n tage is simply an indicator of how many people are betting on a particular side. If we take into account two NBA teams, namely Warriors.
Below is a screenshot from our Sportsbook Insider live odds page. We display both betting percentages and odds. In Game #451, Dallas Cowbovs vs. New York Giants, Dallas received 52% of the “SPD” (spread) bets placed on this game, while New York received 48%. The Cowboys also received 73% of ML (moneyline) bets versus just 27% for the Giants.
On average favorites win about 35% of horse races. But, that win percentage can fluctuate based on the distance, surface, class, etc. For example, favorites are more likely to win dirt races than turf races. Another thing that will obviously make a big difference in the win % of favorites is the number of horses in the race. Favorites will win more often in small fields than in races with a lot of other entrants.
We recently looked at a large sample of data in Angler for races that had 8 horses starting. These races contained all tracks, distances, surfaces, classes, etc. The only consistent thing was that they had 8 starters.
We wanted to look at each horse in those races based on their rank in terms of their final odds. The horse with the lowest odds is the favorite, and the horse with the highest odds was the 8th choice.
The table above shows you how often a horse runs better, worse or as expected.
If a horse was the favorite, they couldn't run better than expected (as they were expected to win) and the 8th choice couldn't run worse than expected (it was expected to finish last).
The favorites in these 8 horse races won 35.4% of the time and ran worse than that 64.6% of the time. Worse could be anything from 2nd through 8th. The 2nd betting choice ran as expected (2nd) 20.7% of the time and ran better than expected 21.6% of the time and ran worse than expected (3rd through 8th) 57.7% of the time.
As you look through the table you will notice some interesting things:
The betting public is better at deciding which horse will win than which horse will finish last.
In races with 8 horses the winner will be among the top 4 betting choices 82% of the time.
Horses that are the 5th choice will run better than expected 45.9% of the time, which puts them on a lot of superfecta tickets.
While this information is not all that surprising, it should help you think in general terms about percentages and odds. If you want to make money betting on horses you need to be betting against the favorite in the races that it is going to lose, and as you can see that happens more often that not (64.6% of the time). If you are betting on a horse that is the 5th choice or higher you are only going to win about 18% of the time. A horse could be the 5th choice and have odds of 7:1 or it could be the 5th choice and have odds of 12:1 or more. So, when you consider the general percentage chance that you have of beating the public opinion make sure you are going to be paid accordingly if you are right.
Finding the value plays is the key, and using Betmix will get you there. Betmix angler will help you find value plays and give you answers to almost any statistical question you have about horse racing data.
Election Betting Odds
By Maxim Lott and John Stossel
Betting Money Percentages
Hover over candidate pics for market breakdown. Hover over underlined titles for amount bet.
Odds for this page are averaged between FTX.com, Betfair and Smarkets
20.1% +0.0% |
15.1% -0.6% |
10.7% 0.1% |
5.6% 0.2% |
4.0% +0.0% |
3.9% +0.0% |
1.9% +0.0% |
1.7% +0.0% |
1.7% +0.0% |
1.5% -0.1% |
1.5% +0.0% |
1.4% -0.0% |
1.2% +0.0% |
1.2% 0.4% |
1.0% +0.0% |
0.9% +0.0% |
0.4% +0.0% |
0.4% +0.0% |
0.4% +0.0% |
0.2% +0.0% |
25.2% |
53.9% +0.0% |
42.6% +0.0% |
3.6% |
22.1% -0.1% |
11.3% 0.2% |
9.9% -0.1% |
8.1% +0.0% |
4.7% +0.0% |
4.0% -0.0% |
3.9% +0.0% |
2.9% +0.0% |
2.9% -0.0% |
2.5% +0.0% |
2.5% +0.0% |
2.5% +0.0% |
2.2% +0.0% |
2.0% +0.0% |
1.6% +0.0% |
0.8% +0.0% |
16.3% |
By John Stossel | By Nate Silver | By Burton Malkiel | By Maajid Nawaz | By Yeonmi Park |
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How To Calculate Percentage Odds
About these odds and FAQ By Maxim Lott and John Stossel Odds update every minute
Betting Odds As Percentages
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